Geopark Ltd · NYSE:GPRK
Geopark — Investor Presentation (February 2015)
19 slides from Geopark's investor presentation, Feb 12, 2015
Slide 1: Disclaimer
[GRAPHIC OMITTED] The material that follows comprises information about GeoPark Limited ("GeoPark") and its subsidiaries, as of the date of the presentation. It has been prepared solely for informational purposes and should not be treated as giving legal, tax, investment or other advice to potential
Slide 2: Strong Balance Sheet Well Positioned to Weather Oil Price Crisis
[GRAPHIC OMITTED] Strong Balance Sheet Well Positioned to Weather Oil Price Crisis GEOPARK IS A LEADING INDEPENDENT EandP PLAYER WITH STRONG BALANCE SHEET, LOW RISK ASSETS AND ATTRACTIVE UPSIDE POTENTIAL IN THE HIGH-GROWTH LATIN AMERICAN OIL AND GAS MARKET STRONG LIQUIDITY [] High Cash Position of $
Slide 3: 2015 Strategy and Outlook: Defensive and Offensive Plan
[GRAPHIC OMITTED] 2015 Strategy and Outlook Defensive and Ofensive Plan 2014 VS. 2015 CAPEX PROGRAM ($MM) [GRAPHIC OMITTED] 2015 CAPEX $35-40 MM + Facilities 2015 CAPEX $6-7 MM Compression Plant (Manati) + Seismic processing 2015 CAPEX $8-9 MM Environmental Studies 2015 CAPEX $3-4 MM Seismic Studies
Slide 4: Latin American Asset Base Performance and Opportunity
[GRAPHIC OMITTED] Latin American Asset Base Performance and Opportunity LARGE RISK-BALANCED PROJECT INVENTORY Production Assets: 20,557 boe/d (2014) Development Assets: 3P Reserves of 190 to 220 MMboe Exploration Assets: Resources of 500 MM to 1 billion boe Unconventional Resource Assets: 150 to 200
Slide 5: Executing on Latam Oil and Gas Opportunities
[GRAPHIC OMITTED] Executing on Latam Oil and Gas Opportunities [GRAPHIC OMITTED] COLOMBIA [] Biggest growth story in Colombia [] New world class field discovery, Tigana [] Introduced new play concept to Llanos basin PERU [] Large resource base in Peru [] World class subsurface asset with proven rese
Slide 6: Large Diversified Inventory of Reserves and Resources
[GRAPHIC OMITTED] Large Diversified Inventory of Reserves and Resources DRIVERS OF ORGANIC GROWTH [] 31 blocks in 12 basins in 5 countries / 6.0 MM acres [] 3P reserve development opportunities: 190-220 MMboe [] Exploration resource opportunities: 500 MM to 1.0 billion boe / 100+ leads and prospects
Slide 7: Track-Record of Consistent Reserves Growth
[GRAPHIC OMITTED] Track-Record of Consistent Reserves Growth 2P RESERVES GROWTH [] Strong 2P reserves growth track-record [] 11% CAGR (2009-2013) in 2P reserves [] Material increase expected for 2014 due to Tigana Field discovery (internal estimate of 3P 20-30 MMboe net) and Peru entry (internal est
Slide 8: Colombia: Leading E&P Story in Colombia Today
[GRAPHIC OMITTED] Colombia Leading EandP Story in Colombia Today [GRAPHIC OMITTED] [] Acquired three companies in 2012 -- and in 2 years, drilled 57 wells, discovered 11 new oil fields (6 operated) and increased production by 4+ times [] Quickly built value by introducing new paradigms - both above
Slide 9: Chile: Low Risk Development and Exploration in Proven Area
Chile Low Risk Development and Exploration in Proven Area [GRAPHIC OMITTED] FELL BLOCK [GRAPHIC OMITTED] TIERRA DEL FUEGO BLOCKS [GRAPHIC OMITTED] REPLICATING FELL BLOCK SUCCESS IN TIERRA DEL FUEGO Oil and Gas Fields Exploration Prospects [] First private oil and gas producer in Chile [] Large fully
Slide 10: Brazil: Positioned to Grow and Capture Opportunities
[GRAPHIC OMITTED] Brazil Positioned to Grow and Capture Opportunities [GRAPHIC OMITTED] [] Largest producing gas field in Brazil: fully-developed, cash flow producing, low-risk asset [] Partnership with Petrobras [] Exploration blocks in proven basins [] Tecpetrol partnership to acquire new projects
Slide 11: Peru: New Country Entry / Transformational Acquisition
[GRAPHIC OMITTED] Peru New Country Entry / Transformational Acquisition [GRAPHIC OMITTED] [] Large acreage position in one of most prolific basins in Latin America (produced over 1 billion bbls) [] Discovered oil field with opportunity to bring near term cash flow [] Similar play-type exploration pr
Slide 12: Profitable Assets Even at Low Price Scenarios
[GRAPHIC OMITTED] Profitable Assets Even at Low Price Scenarios ESTIMATED OPERATING NETBACK (1) @ 50 ($/BBL) [GRAPHIC OMITTED] ESTIMATED OPERATING NETBACK (1) @ 60 ($/BBL) [GRAPHIC OMITTED] ESTIMATED OPERATING NETBACK (1) @ 80 ($/BBL) [GRAPHIC OMITTED] OPERATING NETBACK (1): ACTUAL 9M 2014 ($/BBL) [
Slide 13: Operational Track-Record Leads to Financial Track-Record
[GRAPHIC OMITTED] Operational Track-Record Leads to Financial Track-Record INCREASING SALES REVENUES ($MM): +62% / YEAR (CAGR '10 -- '13) [GRAPHIC OMITTED] INCREASING CASH GENERATION ADJUSTED EBITDA ($MM): +60% / YEAR (CAGR '10-- '13) [GRAPHIC OMITTED] INCREASING EFFICIENCY OPERATING NETBACK ($/BOE)
Slide 14: In Hunt for Potential Value Dislocation Opportunities
In Hunt for Potential Value Dislocation Opportunities TODAY[]S HIGHEST POTENTIAL HYDROCARBON REGION Finding, Closing and Building Value on New Projects [] Rapid execution and investment on acquired assets [] Track-record converting assets and building value Active Long-term Pipeline of Projects [] T
Slide 15: Uniquely-Positioned Oil and Gas Investment Vehicle
[GRAPHIC OMITTED] Uniquely -Positioned Oil and Gas Investment Vehicle [GRAPHIC OMITTED] [] Oil-Finding and Operating Know-How [] Solid Asset Base with Cash Flow and Upside [] Operational and Financial Track Record [] Access to Capital [] New Project Inventory and Alliances [] Capital Allocation and
Slide 16: Appendix: Reconciliation of Adjusted EBITDA to Profit Before Income Tax
[GRAPHIC OMITTED] Appendix RECONCILIATION OF ADJUSTED EBITDA TO PROFIT BEFORE INCOME TAX In millions of $ 20 10 2011 2012 2013 9M2014 Adjusted EBITDA 41 63 121 167 193 Depreciation -23 -26 -53 -70 -73 Accrual of Stock Awards -3 -5 -5 -9 -8 Impairment and write-off -3 -7 -26 -11 -9 Others 1 1 4 7 1 O
Slide 17: Contacts
[GRAPHIC OMITTED] [GRAPHIC OMITTED] Contacts Andr[]s Ocampo Chief Financial Officer Pablo Ducci Capital Markets Sof[]a Chellew Investor Relations Santiago, Chile Nuestra Se[]ora de los []ngeles 179, Las Condes, Santiago, Chile Phone: +(56 2) 2242 9600 Email: ir@geo -park.com [GRAPHIC OMITTED]
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Slide 19: Signature
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. GeoPark Limited By: /s/ Andrés Ocampo Name: Andrés Ocampo Title: Chief Financial Officer Date: February